Legal Dictionary of Pakistan
Quick lookup for English, Urdu, and Latin legal terms used in Pakistani jurisprudence.
Payor
One who pays; esp., a person responsible for paying a negotiable instrument. - Also spelled payer. See DRAWEE.
Payor bank
a bank that is requested to pay the amount of a negotiable instrument and, on the bank's acceptance, is obliged to pay that amount; a bank by which an item is payable as drawn or accepted. Ucc4-105(3). - also termed drawee bank.
payor bank
See BANK.